Food Lion Appoints McCanless
As CEO, Says Profit Rose 6.1%

a Wall Street Journal Staff Reporter

Updated April 8, 1999 12:16 a.m. ET

SALISBURY, N.C. -- Food Lion Inc. named Bill McCanless its new chief executive and president. Separately, the company said its fiscal first-quarter earnings rose 6.1%, including a one-time charge for the former CEO's retirement package.

Mr. McCanless, 41 years old, succeeds Tom Smith, 57, who is retiring as president, CEO and chairman of the supermarket chain, which is 52%-owned by Delhaize Group of Belgium. Pierre-Olivier Beckers, 38, chief executive of Delhaize, was named Food Lion's chairman. The executives couldn't be...